Word: broking
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Dates: during 1940-1949
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Amen Corner. In Johnson City, N.Y., cops broke up a bustling little business for Peter Sadowitz, who was caught operating an unlicensed bar in the social room of a local church...
Success. In Fowler, Colo., a hog-calling contest was abruptly interrupted when hogs broke out of their pens some three blocks away, joined the contestants to see what all the calling was about...
What had brought them together was the crushing fact that Great Britain, once the great leader of the Western democracies, was broke. This was no mere phrase: like a man whose savings have dwindled away, Britain simply has not got the money to buy what she needs, much less to maintain her vital role in the world...
Closing the Bank. But if it was Britain that was broke, why was the conference in Washington? Why not in London? The conferees hoped that the answer to that question would be grasped from Portland, Me. to Portland, Ore. For in the world of 1947, Britain's predicament, no matter what its cause, was of as much concern to the U.S. as to Britain herself. Out of self-interest, if for no other reason, the U.S. could not afford...
...ended fiscal 1947 with a $700 million surplus, but it had not been foreseen in the budget. The 1930-46 period is the longest in which the U.S. ever operated in the red. The infant republic broke about even on deficits and surpluses from 1789 to 1800. Thereafter, Treasury spokesman Albert Gallatin, a strong advocate of high taxes to cut public debt, got it into the habit of trying to stay in the black. The U.S. has managed surpluses in 95 of its 158 years, but has never been entirely out of debt. Lowest point of the national debt...